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Monday March 24, 2025

Gold up

Reuters

By our correspondents
December 06, 2015

New York/London
Gold rose more than 2 percent to the highest in nearly three weeks on Friday after a U.S. non-farm payrolls report, seen as likely to pave the way for the U.S. Federal Reserve to raise interest rates this month, failed to aid the dollar's ascent.
Non-farm payrolls increased 211,000 in November, the Labor Department said. September and October data was revised to show 35,000 more jobs than previously reported."I'm not sure today's news was so surprising but more confirming," said Rob Haworth, senior investment strategist for U.S. Bank Wealth management in Seattle, adding that it led some holding short positions to book profits.
The dollar pared gains after the payrolls report and news that sources said OPEC countries had decided to increase their output ceiling.
Bullion prices extended Thursday's bounce from a near-six-year low, buoyed then by monetary easing measures from the European Central Bank that fell short of expectations.